Marlowe PLC Acquisition of Island Fire Protection Limited (8487L)
24 April 2018 - 4:00PM
UK Regulatory
TIDMMRL
RNS Number : 8487L
Marlowe PLC
24 April 2018
24(th) April 2018
Marlowe plc
Acquisition of Island Fire Protection Limited
Marlowe plc (ÒMarloweÓ or the ÒGroupÓ), the support services
group focused on acquiring and developing companies that provide
critical asset maintenance services, announces that it has acquired
Island Fire Protection Limited (ÒIsland Fire") for a total
enterprise value of up to GBP1.1 million.
Based in Birmingham, Island Fire was founded in 1991 and
provides a portfolio of fire protection services including the
installation and maintenance of fire alarms and extinguishers to
customers nationally.
For the year to 30 April 2017, Island Fire reported revenues of
GBP2.1 million and profit before tax of GBP0.3 million and had
year-end net assets of GBP0.5 million. The total enterprise value
of up to GBP1.1 million comprises an upfront cash consideration of
GBP0.9 million and a cash earn-out expected to be in the region of
GBP0.2 million. The acquisition will be financed from the GroupÕs
existing cash resources.
For further information:
Marlowe plc www.marloweplc.com
Alex Dacre, Chief Executive Tel: +44 (0) 203 841
6194
Mark Adams, Group Finance Director IR@marloweplc.com
Cenkos Securities plc (Nominated Adviser and Broker)
Nicholas Wells Tel: +44 (0)20 7397 8900
FTI Consulting
Nick Hasell Tel: +44 (0)20 3727 1340
Alex Le May
About Marlowe plc
Marlowe is an AIM-listed company formed to create sustainable
shareholder value through the acquisition and development of
businesses that provide critical asset maintenance services in the
UK. It is focused on fire protection, security systems, water
treatment and air hygiene services - which are essential to its
customers' operations and invariably governed by regulation, and
where customers require a single specialist outsourced provider
with nationwide coverage. Our customers can be found on most high
streets, in office complexes and industrial estates, and include
SMEs, local authorities, facilities management providers,
multi-site NHS trusts and FTSE 100 companies.
This information is provided by RNS
The company news service from the London Stock Exchange
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